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Baker Hughes Names New Vice President of Investor Relations
May 11, 2012
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HOUSTON, May 11, 2012 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI) announced today that Trey Clark will become the global oilfield service company's Vice President of Investor Relations.
Clark succeeds Adam B. Anderson who on May 29 will begin serving as Baker Hughes' President, Latin America.
"Adam has a broad understanding of our operations based on a number of international and domestic assignments," Baker Hughes' President and Chief Executive Officer Martin Craighead ...
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Baker Hughes Extends Exchange Offer for Senior Notes Due 2021
May 10, 2012
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HOUSTON, May 10, 2012 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI) announced today that it has further extended the expiration date of its offer to exchange up to $750 million aggregate principal amount of its 3.20% Senior Notes due 2021 (the "New Notes") that have been registered under the Securities Act of 1933, as amended, for an equal amount of its outstanding 3.20% Senior Notes due 2021 that have not been registered under the Act (the "Old Notes").
As a result of the extens...
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Baker Hughes Announces April 2012 Rig Counts
May 7, 2012
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HOUSTON, May 7, 2012 /PRNewswire/ -- Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for April 2012 was 1,178, down 14 from the 1,192 counted in March 2012, and up 49 from the 1,129 counted in April 2011. The international offshore rig count for April 2012 was 299, down 4 from the 303 counted in March 2012 and up 6 from the 293 counted in April 2011.
The average U.S. rig count for April 2012 was 1,961, down 18 from the 1,979 counted in March 2012 a...
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Baker Hughes Extends Exchange Offer for Senior Notes Due 2021
May 3, 2012
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HOUSTON, May 3, 2012 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI) announced today that it has extended the expiration date of its offer to exchange up to $750 million aggregate principal amount of its 3.20% Senior Notes due 2021 (the "New Notes") that have been registered under the Securities Act of 1933, as amended, for an equal amount of its outstanding 3.20% Senior Notes due 2021 or that have not been registered under the Act (the "Old Notes").
As a result of the extension, t...
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Baker Hughes Declares Quarterly Dividend
Apr 26, 2012
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HOUSTON, April 26, 2012 /PRNewswire/ -- Baker Hughes (NYSE: BHI) President and Chief Executive Officer Martin S. Craighead announced today that the Baker Hughes Board of Directors declared the regular quarterly cash dividend of $0.15 per share of common stock payable May 18, 2012, to holders of record on May 7, 2012.
Baker Hughes is a leading supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The company's 58,000-plus employees t...
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Baker Hughes Announces First Quarter Results
Apr 24, 2012
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HOUSTON, April 24, 2012 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI) announced today net income for the first quarter 2012 of $379 million, or $0.86 per diluted share. This compares to $0.87 per diluted share for the first quarter 2011, and to adjusted net income (a non-GAAP measure) of $1.22 per diluted share and net income of $0.72 per diluted share for the fourth quarter 2011. Please see Table 1 for a reconciliation of GAAP to non-GAAP financial measures.
Revenue for the fir...
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Baker Hughes Announces March 2012 Rig Counts
Apr 9, 2012
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HOUSTON, April 9, 2012 /PRNewswire/ -- Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for March 2012 was 1,192, down 12 from the 1,204 counted in February 2012, and up 45 from the 1,147 counted in March 2011. The international offshore rig count for March 2012 was 303, down 17 from the 320 counted in February 2012 and up 8 from the 295 counted in March 2011.
The average U.S. rig count for March 2012 was 1,979, down 11 from the 1,990 counted in Febr...
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Baker Hughes to Present at Howard Weil Energy Conference
Mar 26, 2012
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HOUSTON, March 26, 2012 /PRNewswire/ -- Baker Hughes (NYSE: BHI) announced today that its President and CEO Martin Craighead will be presenting on March 27, 2012, at the Howard Weil Energy Conference in New Orleans, Louisiana. The presentation materials are available on the "Events & Presentations" page at: www.bakerhughes.com/investor.
Baker Hughes is a leading supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The company's ...
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Baker Hughes Issues Outlook for the First Quarter of 2012
Mar 21, 2012
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HOUSTON, March 21, 2012 /PRNewswire/ -- Baker Hughes (NYSE: BHI) announced today that operating profit before tax(1) for the first quarter of 2012 is expected to be lower than the fourth quarter of 2011 primarily due to rapidly changing market conditions in the Pressure Pumping product line in North America and seasonality in all international markets.
As a result of the continued shift in U.S. rig activity from natural gas to oil and liquids-rich basins and other market forces...
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Baker Hughes to Bring State-of-the-Art Fracturing, Stimulation Vessel to North Sea in 2013
Mar 13, 2012
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HOUSTON, March 13, 2012 /PRNewswire/ -- Baker Hughes Incorporated (BHI—NYSE) announced that its subsidiary has chartered a new state-of-the-art pressure pumping vessel that will provide offshore stimulation services to Maersk Oil in the North Sea. Upon completion, scheduled for late 2013, the Blue Orca™ will become the eighth vessel in the Baker Hughes fleet.
"We are pleased to be working with Maersk Oil as we expand our current fleet into the North Sea," said Art Soucy, Bake...
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Update: Baker Hughes Announces February 2012 Rig Counts
Mar 7, 2012
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HOUSTON, March 7, 2012 /PRNewswire/ -- Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for February 2012 was 1,204, up 33 from the 1,171 counted in January 2012, and up 15 from the 1,189 counted in February 2011. The international offshore rig count for February 2012 was 320, up 13 from the 307 counted in January 2012 and up 11 from the 309 counted in February 2011.
The average U.S. rig count for February 2012 was 1,990, down 13 from the 2,003 coun...
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Baker Hughes Announces February 2012 Rig Counts
Mar 7, 2012
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HOUSTON, March 7, 2012 /PRNewswire/ -- Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for February 2012 was 1,204, up 33 from the 1,171 counted in January 2012, and up 15 from the 1,189 counted in February 2011. The international offshore rig count for February 2012 was 320, up 13 from the 307 counted in January 2012 and up 11 from the 309 counted in February 2011.
The US rig count for February 2012 was 1,981, down 27 from the 2,008 counted in Ja...
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Baker Hughes Announces Conference Call
Mar 6, 2012
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HOUSTON, March 6, 2012 /PRNewswire/ -- Baker Hughes (NYSE: BHI) announced today that it has scheduled a conference call on Tuesday, April 24, 2012, to discuss results for the first quarter 2012, ending March 31, 2012. The call will begin at 8:30 a.m. EST. The results are expected to be released on Tuesday, April 24, 2012, before the market opens.
To access the call, please call the conference call operator at 800-374-2469, or 706-634-7270. For international calls, please call 20 minute...
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Baker Hughes Opens Unconventional Resources Research and Technology Center in Dhahran
Feb 29, 2012
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DHAHRAN, Saudi Arabia, Feb. 29, 2012 /PRNewswire/ -- The Baker Hughes Dhahran Research and Technology Center opens its doors today with a focus on research and development of new technologies to unlock the potential of unconventional resources.
The newly constructed, world-class technology and research center is the result of years of planning and a partnership between Baker Hughes (NYSE:BHI) and Saudi Aramco that sets out to solve the challenges in world energy production, said Baker Hu...
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Baker Hughes To Launch AutoTrak Curve Rotary Steerable System
Feb 27, 2012
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HOUSTON, Feb. 27, 2012 /PRNewswire/ -- Drilling in tight leases is challenging for operators, who now can look to Baker Hughes' (NYSE: BHI) AutoTrak Curve™ Rotary Steerable System — a revolutionary tool that can drill vertical, curve and horizontal sections in one fast run to maximize available pay zones and reduce the number of trips.
The AutoTrak Curve rotary steerable system, which will be commercially launched to customers at the International Association of Drilling Cont...
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Updated Investor Presentation
Feb 15, 2012
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HOUSTON, Feb. 15, 2012 /PRNewswire/ -- Baker Hughes (NYSE: BHI) announced today that it posted an updated investor presentation on its website. If you would like to access the presentation, please log on to the following website: http://investor.shareholder.com/bhi/events.cfm.
Forward-Looking StatementsThe presentation referenced in this news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the...
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Baker Hughes Announces January 2012 Rig Counts
Feb 7, 2012
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HOUSTON, Feb. 7, 2012 /PRNewswire/ -- Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for January 2012 was 1,171, down 9 from the 1,180 counted in December 2011, and up 10 from the 1,161 counted in January 2011. The international offshore rig count for January 2012 was 307, up 8 from the 299 counted in December 2011 and down 1 from the 308 counted in January 2011.
The last report of rig activity in Libya was for February 2011.
The US rig coun...
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Baker Hughes to Present at Credit Suisse 2012 Energy Summit
Feb 1, 2012
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VAIL, Colo., Feb. 1, 2012 /PRNewswire/ -- Baker Hughes (NYSE: BHI) announced today that Peter Ragauss, Senior Vice President and Chief Financial Officer, will present at Credit Suisse 2012 Energy Summit in Vail, Colorado, on February 7, 2012, at 10:45am Eastern time.
If you would like to listen to the presentation during the conference, please log on to the following website: http://investor.shareholder.com/bhi/events.cfm. If you would like to listen to a replay, it will be available wi...
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Baker Hughes Declares Regular Quarterly Dividend
Jan 26, 2012
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HOUSTON, Jan. 26, 2012 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI) president and chief executive officer, Martin S. Craighead, announced today that the Baker Hughes Board declared the regular quarterly cash dividend of $0.15 per share of common stock payable February 17, 2012, to holders of record on February 6, 2012.
Baker Hughes provides reservoir consulting, drilling, pressure pumping, formation evaluation, completion and production products and services to the worldwide oil and g...
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Baker Hughes Announces Fourth Quarter and Annual Results
Jan 24, 2012
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HOUSTON, Jan. 24, 2012 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI) today announced adjusted net income (a non-GAAP measure) for the fourth quarter 2011 of $534 million, or $1.22 per diluted share. This excludes an after-tax charge of $220 million ($0.50 per diluted share) related to the impairment of certain trade names. This compares to $0.77 per diluted share for the fourth quarter 2010, and to adjusted net income of $1.18 per diluted share for the third quarter 2011.
Adju...
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